Are you seeking a means to get Turkish citizenship and a passport? Purchasing real estate in Turkey can be your ticket to obtaining Turkish citizenship swiftly and easily through the country's investment program.
In this detailed tutorial, we will walk you through all you need to know about leveraging real estate investment in Turkey as a path to Turkish citizenship.
Overview of Turkish Citizenship
Brief Insight into the Turkish Citizenship Program
In 2017, Turkey announced its Citizenship by Investment Program to stimulate international investment in the Turkey real estate market. Investors who purchase property worth a specified amount are eligible for Turkish citizenship under the program.
The Turkish Citizenship Program underwent a significant shift in mid-2019 when the investment threshold for real estate was lowered to $250,000, aiming to boost foreign investment. This move proved successful, leading to a surge in foreign capital entering Turkey's real estate market over the subsequent three years. However, in response to market dynamics, the government later raised the minimum investment requirement for real estate to $400,000.
The Turkish government actively facilitates foreign investment by streamlining processes and providing incentives. Through the citizenship by investment program, the economy benefits from increased foreign capital infusion into the real estate sector.
The main advantages of obtaining Turkish citizenship are as follows:
- Visa-free travel to several countries
- Low property investment requirement in comparison to other CBI programs
- Quick and simple application process
- Dual citizenship permitted
- Lifetime citizenship with no renewal is required
- High quality of life, ease of travel, and business prospects
Foreign investors have shown strong interest in the program since its beginning, owing to Turkey's geographical location, culture, food, climate, and investment opportunities.
Eligibility Criteria
The following are the main prerequisites for obtaining Turkish citizenship by investment:
- You must be at least 18 years old;
- You must have a clean criminal background;
- You must own an investment property worth at least $400,000;
- You must commit to not selling the property for three years.
The Application Process
The following are the normal methods for obtaining Turkish citizenship through real estate investment.
- Identify and purchase suitable property: Work with a local real estate expert to find a qualifying property in Antalya or other designated districts.
- Gather required documents: Prepare title deed, bank statement, passport copies, photos, and other documents.
- Hire a reputable attorney: Work with an experienced immigration lawyer to handle the application process smoothly.
- Submit citizenship application: The lawyer will apply and all supporting documents to the Immigration Authority.
- Interview at the local immigration office: You will be called for an in-person interview by the immigration authorities.
- Obtain citizenship: If approved, you will be issued Turkish citizenship within 6-9 months. Your spouse and children are also eligible.
The total costs for legal and application fees are around $5000-7000 depending on family size.
The relatively low investment threshold along with a straightforward application process makes Turkish citizenship by property investment an attractive option for investors worldwide.
Step-by-Step Property Buying Process in Turkey
If you have decided to buy property in Turkey for Turkish citizenship, here is an overview of the entire buying process:
1) Identify the Right Property
Working with the Antalya Development expert team who understands your requirements to shortlist suitable options. Visit the potential properties to evaluate location, construction quality, amenities, pricing, and other aspects before selecting.
Look for projects by reputed developers that are approved by the municipality for enhanced peace of mind.
2) Due Diligence
Conduct thorough due diligence before finalizing a property:
- Title deed verification: Confirm no ownership disputes and previous dues are pending.
- Sales agreement review: Check all terms like payment schedule, possession date, cancellation clauses, etc.
- Site inspection: Hire a structural engineer to assess the quality of construction.
- Price assessment: Ensure the price paid is aligned with prevailing market rates in the vicinity.
3) Making the Payment
Once the property is selected, a sales and purchase agreement is signed with the developer. A payment plan is agreed upon, typically with installments over 12-24 months.
The payment can be made directly to the developer either through overseas remittance or a local Turkish bank account. Each installment payment should be carefully documented.
4) Transfer of Title Deed
After completing payment as per schedule, the developer will undertake the title deed transfer process. This is done at the land registry office where payment of a small fee may be required.
All related paperwork and sales agreements are submitted for registering the property under your name. The original title deed is provided indicating your lawful ownership.
5) Registration & Permits
The purchased property must be registered for tax purposes with the local municipality by submitting the title deed. Relevant occupancy and use permits should also be obtained.
Utility connections like electricity, water, gas, etc. need to be applied for before occupying the property. A local property management company can help handle this.
6) Resale Considerations
While a 3-year holding period is mandatory for citizenship, you can resell the property anytime after that if needed. Taxes are very low on property sales in Turkey.
Property prices are likely to appreciate providing good resale value. Transfer of ownership to the new buyer follows the same title deed transfer process. Capital gains taxes apply on any profits realized.
Following these key steps will ensure your property purchase in Turkey is smooth, efficient, and hassle-free. Proper professional guidance goes a long way.
Verification and Due Diligence Process for Acquiring Turkish Citizenship
The document list is quite standard for any residence or citizenship through an investment program. While not comprehensive, the following list includes the majority of required documents:
- Birth certificates of all the applicants;
- Passports of investors and dependents;
- Proof of Residence in your country of residence (3-month utility statement);
- Biometrics, colored passport photos of each applicant;
- Police clearance from your country of residence to show a clean criminal record for due diligence;
- Proof of Health Insurance (valid in Turkey);
- Proof of investment; and
- Turkish Tax ID Number.
Dependent family members eligible for inclusion are defined as spouses, dependent children below eighteen years old, and children of any age with disabilities, who may apply alongside the primary applicant.
There are no extra investment requirements for including other family members. All adult applicants seeking citizenship in Turkey must initially secure a residence permit and undergo due diligence.
Steps to Get Turkish Citizenship
Once you complete the purchase of qualifying real estate in Turkey, the next step is applying for Turkish citizenship under the investment program. Here is an overview of the process:
1) Gather Required Documents
After the property title transfer, compile all the required supporting documents for your application including:
- Title deed
- Passport copies
- Bank statement showing transfers for property payment
- Health insurance
- Proof of address
- Criminal record certificate
2) Make an application for citizenship
Upon securing the residence permit, gather all necessary paperwork for the citizenship application. Submit the completed case file, including all required documents, to the Provincial Directorate of Census and Citizenship.
3) In-Person interview
You and your family members will be called for an in-person interview at the immigration office. The interview aims to verify the details submitted with the application.
4) Citizenship Approval
If approved, the General Directorate of Migration Management issues a citizenship certificate. A Turkish passport can then be applied for.
5) Get Passport
To obtain your Turkish passport, submit the citizenship certificate along.
Obtaining Turkish citizenship through real estate investment opens up a world of opportunity. Turkey's citizenship by investment program offers an appealing route to second citizenship, thanks to its comparatively low investment requirement and simple application process.
So, if you want an updated passport with visa-free travel and an unrivaled quality of life, buying property in Turkey could be your ticket to Turkish citizenship.
Seeking expert immigration guidance?
Understanding immigration programs can be confusing and daunting, regardless of the country or program you're considering. If you're feeling overwhelmed by the lack of clear, accurate information, know that you're not alone. Our team of lawyers is here to assist you with clear guidance and trustworthy advice on getting Turkish citizenship by investment.
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